Black Friday: Getting the most for your money

Tips for maximizing bargains

Shoppers flock to the Cottonwood JCPenney for discounts during last year’s Black Friday. (VVN/File Photo)

Shoppers flock to the Cottonwood JCPenney for discounts during last year’s Black Friday. (VVN/File Photo)

VERDE VALLEY – The analysts at WalletHub.com asked eight business school professors to share their best Black Friday shopping tips. Here’s a summary of their top ten tips for maximizing bargains:

  1. Buy a newspaper the Sunday and Wednesday before. This would be the best place to see who is offering what.

  2. Before Black Friday, check the published and leaked deals on the item, as most of the items on sale are released early.

  3. Buy gift cards from gift card resellers like SaveYa beforehand and pay for your purchase with those so as to decrease your price even further.

  4. List the items as well as the stores these items are sold at. Then, consumers can consider travel time between stores and travel routes to determine a shopping plan that best suits their needs.

  5. Find out the store’s opening time and get there on time or as early as possible, because the best deals are always on limited quantities.

  6. Your mobile device is power: you can read product reviews, compare prices, access coupons and ask retailers to price match.

  7. Know what you are looking for, team shop, use technology, divide and conquer.

Develop the target list and use a registry app to digitally share the list among the team to track purchases.

  1. Some retailers have the “price match” policies to provide consumers with the guarantee of the lowest prices. Ask for “price match” if you find a better deal. Even if the retailer does not have a publicized “price match” policy, it does not hurt to ask.

  2. Understand the retailer’s return policy in case you need to return an item or you find a better deal.

  3. Know what you want to buy at each store and get in and get out. Taking time to look at other items and sales in the store is tempting, and can cause you to overspend.

Find where to shop, what to buy

An analysis of 35 of the biggest U.S. retailers by financial website WalletHub.com has revealed the best places to shop, as well as the best items to buy, during Black Friday Nov. 25.

Stores having biggest discounts

Overall, shoppers can expect to save 39 percent on-average by shopping on Black Friday. According to WalletHub, the stores offering the biggest Black Friday discounts include:

  1. Macy’s (63.35 percent)

  2. Stage (62.81 percent)

  3. JCPenney (62.79 percent)

  4. Harbor Freight (62.58 percent)

  5. Gordmans (61.59 percent)

  6. Kohl’s (58.15 percent)

  7. Shopko (55.55 percent)

  8. Fred Meyer (49.70 percent)

  9. Craft Warehouse (45.03 percent)

  10. Sears (43.89 percent)

Note: Comparative stores declining to participate in the survey included Home Depot, Tractor Supply Co., Michaels Stores and Wayfair.

Items having biggest discounts

Holiday shopping lists containing the following items can score the deepest discounts off retail prices, according to WalletHub:

  1. Jewelry (65.28 percent)

  2. Apparel and Accessories (49.29 percent)

  3. Books, Movies and Music (46.42 percent)

  4. Video Game Software (43.59 percent)

  5. Consumer Packaged Goods (43.51 percent)

  6. Furniture (43.22 percent)

  7. Appliances (40.81 percent)

  8. Consumer Electronics (37.63 percent)

  9. Computers and Phones (33.94 percent)

  10. Toys (32.66 percent)

Best gift cards

Shoppers unsure of what to buy this holiday season may consider gift cards. Taking into account the elements of popularity, average discount, average resale value, retailer appeal and shipping fees, WalletHub says the best gift cards include:

  1. Target

  2. Netflix

  3. Walmart

  4. Amazon

  5. Best Buy

  6. Costco

  7. Dunkin Donuts

  8. T.J. Maxx

  9. iTunes

  10. Starbucks

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